IIROC calls for nominee to OBSI board

The Investment Industry Regulatory Organization of Canada (IIROC) is seeking retail brokerage candidates to serve as its nominee to the board of the industry dispute resolution service, the Ombudsman for Banking Services and Investments (OBSI).

IIROC issued a notice Friday soliciting interest from dealer employees that are interested in being nominated by IIROC to serve on the OBSI board. Prospective applicants must be a current partner, director, officer or employee of an IIROC dealer, and must be actively engaged in the business of their firm; and, they should have significant management and retail experience, the notice says.

The regulator notes that it uses an open selection process to identify and propose nominees from the industry to serve on the OBSI board. IIROC’s nominee may be appointed to OBSI’s board for a term of up to three years, and may be re-appointed, but cannot serve for more than six years.

Applications must be received by October 15, and IIROC says that candidates will be considered for appointment by the IIROC board in November.